Alderford – What to look for in houses for sale?

by | Nov 15, 2022

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Alderford can be a tough place to find accurate information like any city in the UK. Read on to learn about which data to stay on top of when looking at house for sale in Alderford.

On top of this, keep reading for detailed information on the demographics of Alderford in Norfolk. This is crucial in finding out if the area is worth for looking at houses for sale in the UK for an investment over the long term too.

What are the demographics like in the city of Alderford?

Is the education level of Alderford important when buying a house?

Interestingly, the percentage of people who have a degree in the city of Alderford is 25%. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Alderford is £46,400.

Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.

Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.

However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.

What is the social grade score of Alderford?

In the city of Alderford, the social grade score of the area is 30%. But what does this exactly mean? The figure refers to the proportion of people in the two highest categories of skilled jobs.

The categories are grouped from A to E shown in the table below. Overall, a high social grade score means there are more affluent people working in managerial and professional roles in the area.

This table shows the average breakdown of the UK in terms of where most people in the UK are working so you can compare it to the social grade score of Alderford.

Social Score Category The proportion of the UK population (%)
A Professional, managerial or administrative 4
B Intermediate managerial or professional jobs 23
C1 Supervisory, junior managerial or professional jobs 29
C2 Skilled manual workers 21
D Semi and unskilled manual workers 15
E State pensioners, casual & lowest grade workers 8

Have the people of Alderford grown in numbers?

Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Alderford if 17,154 and in the below heading how this population has changed will be broken down.

Like most data to do with houses, all data has to be considered holistically with multiple variables to determine if the population growth actually impacts the statistics that matter to you as a landlord in Alderford such as rental yield or house appreciation.

How has the population size of Alderford adjusted in the last 5 years?

In the previous five years there has been a change in the number of people of Alderford by 7%. Analysing this figure is a great way to tell if there is new demand for housing or not as a decreasing figure reduces the number of people who want to buy houses. Read more here

To compare this figure over a greater period of time, you could look at the figure for the 1 year population too and compare them. This way you can see if the population has changed recently or if this 7% change has historically occurred before. Click here to know more on the UK population trends.

Over the last 10 years, how has the population size adjusted in Alderford?

In the last decade, the population of Alderford has been adjusted by 13%. This growth may be as a result of factors like new industries employing people or emigration and immigration balancing out to create this population change.

A precedent that shows population change in this way over decades is the region of Greater London. The capital city has grown by 27% in the past 20 years. Population growth has caused house prices to go up to price523,666 on average.

In the city of Alderford, is there a lot of green space?

In the city of Alderford, there are 71.1 acres of green space per 1000 residents.

The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where Alderford is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.

How much do people in Alderford earn?

You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is £46,400.

This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Alderford this figure is 30%.

In Alderford, what are the deprivation levels like?

Deprivation of a city is defined as the number of people who are considered to not be earning enough to sustain their lifestyle. The UK average of deprivation nationwide is 33% so comparing the figure of 23% for Alderford should give you a nice idea of the deprivation in the area.

Located in Norfolk is the city of Alderford, in a large part of the UK; East of England. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.

Below, the population of Alderford has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.

The knowledge below is based on a lot of different variables relevant to the city of Alderford which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.

What’s crime like in Alderford?

In Alderford, for every 1000 people, there is currently a crime rate of 54. This can be compared to the national average of 79.52 for every 1000 people.

Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.

Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (54 for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.

If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.

In general, what do houses for sale sell for in Alderford?

As well as looking at the asking price for house for sale in Alderford, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Alderford.

Houses for sale, are sold on average in Alderford, after the influence of these factors, at £291,185 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 13% over the last 10 years.

Housing category Total final sale price
Aerage sold price (detached) £332,893
Aerage sold price (semi-detached) £237,492
Aerage sold price (terraced) £216,650
Aerage sold price (flat) £137,875

This table above shows the average sale price for each variation of houses for sale in Alderford.

Housing category Sale price per square foot
Aerage sold price/sqft £2,690
Aerage sold price/sqft (new build) £2,590
Aerage sold price/sqft (old stock) £2,670

This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Alderford is £3,050.

This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.

Always consider average rental yield when searching for houses for sale in Alderford

What is the growth in the housing market of Alderford?

Before committing to Alderford to make a housing investment, an investor should always ask the question, what is the growth like in the area?

So take a look below at the growth patterns of the previous years displaying the percentage of new houses being built. This will help you understand how the number of houses for sale will evolve in the future.

1 year 3 years 5 years
Alderford growth rate 11% 14% 21%

Whether housing growth actually changes the price of a house depends on if the city in question is outstripping demand with the supply of new housing. You’d have to do some more research on what rate Alderford is building housing to find your answer.

Assuming you are not looking for a house for sale in a certain area because of private reasons such as being close to a family member or you have been relocated to a new office, these are some of the factors to consider in order to understand if an investment is worth your money.

Investors typically look at data such as the average rental yield, the average asking price of rent per month, rent turnover and sale turnover. These KPIs give property investors a solid idea of how the market is performing in that area.

For the city of Alderford, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; East of England. As well as Norfolk, to give a smaller scale area to compare the data to.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Alderford 3.8% £1,242 no relevant data for this city 16.0%
Norfolk 3.75% £975 117.20% 16.23%
East of England 3.49% £1,148 126.76% 16.58%

Assuming that in the future you want to re-sell the house you will eventually purchased in Alderford you might be interested in the number of sales per month (17) that happen in the local housing market. Comparing this figure for Alderford with the above table gives you a good understanding of the profitability of the area.

On average, what is the figure for the asking price of a house for sale in Alderford?

Average asking prices for houses for sale in Alderford

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £256,250
Average asking price (3 bed) £344,000
Average asking price (4 bed) £476,719
Average asking price (5 bed) £688,333

The tables should give you a generic view of what the prices of the houses for sale are like. To close things off in terms of the house asking price, the average asking price for the house for sale in the whole of Alderford is £3,420. This should show you the general prices overall and for individual types of houses too.

When speaking about the city of Alderford, £392,281 is the asking price for a house for sale.

We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children would be after a larger house than someone living alone in Alderford.

The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.